Digital Turbine (NASDAQ:APPS) Sets New 52-Week High at $31.31

Digital Turbine Inc (NASDAQ:APPS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.31 and last traded at $30.76, with a volume of 61375 shares trading hands. The stock had previously closed at $28.67.

APPS has been the topic of a number of recent analyst reports. Oppenheimer reissued a “buy” rating and issued a $23.00 price objective (up from $14.00) on shares of Digital Turbine in a research note on Wednesday, August 5th. Roth Capital reissued a “buy” rating and issued a $25.00 price objective (up from $13.00) on shares of Digital Turbine in a research note on Thursday, August 6th. BidaskClub cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 26th. Zacks Investment Research cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Craig Hallum boosted their target price on shares of Digital Turbine from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Digital Turbine has an average rating of “Buy” and an average price target of $19.41.

The company has a market cap of $2.22 billion, a price-to-earnings ratio of 109.86, a price-to-earnings-growth ratio of 1.28 and a beta of 2.23. The business’s fifty day moving average price is $22.44 and its 200 day moving average price is $11.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $59.01 million for the quarter, compared to analyst estimates of $48.49 million. Digital Turbine had a net margin of 15.35% and a return on equity of 31.91%. As a group, equities research analysts anticipate that Digital Turbine Inc will post 0.4 EPS for the current year.

In other news, CEO William Gordon Stone III sold 84,585 shares of Digital Turbine stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $24.10, for a total transaction of $2,038,498.50. Following the transaction, the chief executive officer now owns 1,035,989 shares in the company, valued at $24,967,334.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings in Digital Turbine by 0.6% in the second quarter. Advisors Asset Management Inc. now owns 111,612 shares of the software maker’s stock valued at $1,403,000 after buying an additional 621 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Digital Turbine by 8.4% in the second quarter. Commonwealth Equity Services LLC now owns 12,235 shares of the software maker’s stock valued at $153,000 after buying an additional 952 shares during the period. Principal Financial Group Inc. lifted its holdings in Digital Turbine by 15.6% in the second quarter. Principal Financial Group Inc. now owns 13,603 shares of the software maker’s stock valued at $171,000 after buying an additional 1,834 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Digital Turbine by 15.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 20,442 shares of the software maker’s stock valued at $257,000 after buying an additional 2,810 shares during the period. Finally, Globeflex Capital L P lifted its holdings in Digital Turbine by 1.5% in the second quarter. Globeflex Capital L P now owns 193,107 shares of the software maker’s stock valued at $2,427,000 after buying an additional 2,857 shares during the period. Institutional investors and hedge funds own 60.94% of the company’s stock.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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